SPOs Monthly Call October 2024

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LLamada Mensual de SPOs Octubre 2024

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Summary

This Discord call in the IOG technical community covered crucial updates for Stake Pool Operators (SPOs) on the Cardano network. Key topics included the upcoming Chang upgrade #2, changes to SPO voting mechanisms, updates from the parameter committee, and progress on Hydra development. The call emphasized the importance of SPO participation in governance, upcoming hard fork events, and the formation of an SPO Special Interest Group (SIG) at Intersect to better serve the SPO community.

Main Topics:

1. Chang upgrade #2

   • Node 10.0.0 for testing expected mid-October, with Preview environment testing in late October.
   • Hard fork working group meets Tuesdays at 4pm UTC, welcoming more representation from SPOs and DApps.

2. SPO Voting Mechanism Changes

   • Default vote for SPOs changed from abstain to “no” for most governance actions, except hard fork initiation.
   • SPOs can use their reward wallet to signal auto-abstention by delegating to a predefined voting option.

3. Parameter Committee Updates

   • Reviewing guard rails for governance settings and considering changes to SPO voting thresholds.
   • Discussing emergency procedures for urgent on-chain parameter changes.

4. Hydra Development Progress

   • 100 Hydra heads registered on the explorer, mostly on preview network.
   • Work progressing on incremental commits and partial fanouts, moving towards version 1.0.

5. SPO Special Interest Group (SIG) at Intersect

   • Proposed as a focused institutional vehicle for serving the SPO community.
   • Aims to facilitate SPO communication, organization, and input on the Cardano roadmap.

Insights and Notable Data/Statistics

1. The Chang upgrade #2 timeline is tentatively set with Node 10.0.0 testing in mid-October and Preview environment testing in late October.

2. SPOs are required to participate in hard fork voting, with a current threshold of 51% of all stake in SPO delegation needed for transition.

3. The new SPO voting mechanism allows for auto-abstention through reward wallet delegation, addressing concerns about exchange participation in governance.

4. The parameter committee is open to community requests for reviewing specific guard rails, particularly those related to governance settings.

5. Hydra development shows promising adoption with 100 Hydra heads registered on the explorer, indicating increased builder interest.

6. The SPO SIG at Intersect aims to provide a platform for SPOs to influence the Cardano roadmap and discuss priorities for future development.

7. The Cardano Foundation is separating its communication channels, with cardano.org becoming community-oriented and content-filled.

8. The parameter committee is considering changes to Plutus parameters to enable new primitives like RIPE MD and bitwise operations before the Chang plus one hard fork.

9. Intersect’s Technical Steering Committee has agreed to take on the role of progressing the submission of governance actions for voting when original proposers are unable or unwilling.

10. The hierarchy of organization at Intersect consists of special interest groups, working groups, and committees, with upcoming elections for committee representatives.

Call to Action Items

1. Participate in the monthly SPO calls held in the Discord IOG technical community server https://discord.gg/inputoutput

2. Join the hard fork working group by emailing hard-fork@intersectmbo.org for an invite.

3. Provide feedback on SPO voting thresholds in the Intersect Discord’s SPO SIG channel.

4. Engage with the parameter committee through the forum.cardano.org and share insights with DReps.

5. Join the Intersect Discord and participate in the SPO Special Interest Group to influence Cardano’s roadmap.

6. Stay informed about Chang upgrade #2 by bookmarking and regularly checking the Intersect Knowledge base: https://intersect.gitbook.io/cardano-chang-upgrades/chang-upgrade-2/chang-upgrade-2-overview

7. Consider participating in the upcoming Intersect elections for committee representatives.

Related Notes

• Cardano Governance Model
• SPO Best Practices
• Cardano Network Parameters
• Hydra Layer 2 Solution
• Intersect Organizational Structure

Notes:

• SPO Predefined voting options: https://github.com/cardano-foundation/CIPs/pull/916
• Ledger Working Group Meeting discussion: Contains the discussion around the Implementation of Voting Counting method against Community expectations, and the solution reached. https://drive.google.com/file/d/1_Y0K9mzX6k7gMXDGIB7Gbpgzhj3JlitD/view
• Ledger repository ticket: https://github.com/IntersectMBO/cardano-ledger/issues/4645